Huajian Medical Buys ETH Worth HKD$149M, Plans HKD$880M

Huajian Medical, a Chinese medical diagnostic company listed in Hong Kong, has announced the launch of ‘Global Enhanced Ethereum Treasury with Downward Protection Mechanism’, making ETH its primary treasury reserve asset.

With this plan, Huajian Medical intends to join the list of companies having exposure to cryptocurrencies, especially Ethereum. It is worth noting that it has bought 5,190 Ether for HKD$149 million, at an average price of $3,661 per Ether.

Following this purchase, the company made a profit of $1.8 million in just one day as the ETH price has recently crossed the mark of $4,000. Despite this acquisition, the company further aims to add an Ethereum worth $112 million.

More information available notes that the Chinese medical company aims to allocate $880 million solely for Ether purchase with the intent to boost its exposure in Ethereum.

Ethereum is attracting more companies and institutions

Over the past few quarters, Ethereum buying has reached new heights, and to date, more than a dozen companies have announced their plan to boost their investment in ETH.

Companies such as BitMine Immersion Technologies, SharpLink Gaming, Bit Digital, BTCS Inc., GameSquare Holdings, Intchains Group Limited, and KR1 plc hold a significant amount of Ethereum.

According to data from CoinGecko, Bitmine Immersion is the biggest holder of Ether with a total of 833,133 Ethereum, followed by SharpLink Gaming, which owns 521,939 ETH, Coinbase Global Inc has 136,782 Ether, Bit Digital Inc has 120,306 Ethereum, and BTCS Inc has 70,028 ETH.

The collective Ethereum held by publicly listed companies is 1,749,490 ETH, worth around $7,441,876,857 when writing

A quick overview of Ethereum prices

Since the last few quarters, Ethereum prices have enjoyed an appreciable uptick in momentum, and when writing, it is trading at $4,235 with an increase of 1.02% and has added more than 19% in a week.

Currently, the market cap of ETH is $511.49 billion, which is up by 1.04% till writing, yet in the past 24 hours, the capitalization was seen near $520 billion, which helped to surpass MasterCard in terms of market capitalization.

It is most important to note that following the sudden surge in ETH, Vitalik Buterin, the youngest co-founder, has regained the status of crypto billionaire as his Ether holdings value has reached $1,041,476,810

The address marked by Arkham states that Buterin holds 240.042k Ether, 2.906k AETHWETH, 10 billion WHITE, 30.001 billion Moodeng, 869.509k KNC, 42.25 WETH, and 47.284 USD, including several others.

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